Online payment giant, PayPal has acquired an artificial-intelligence (AI) powered prediction platform, Jetlore for some of the world’s top retailers. Headquartered, San Mateo, California, Jetlore was founded by P.hd students from Standford’s computer science programme division in 2011.
Jetlore applies the power of machine learning to the retail market. It proprietary prediction platforms such as Uniqlo and Nordstrom Rack empowers global retailers to deliver personalized customer experience to increase sales and loyalty. Jetlore is led by experts in retail AI including Eldar Sadikov, Montse Medina and Sergey Andreev, who will join PayPal team after the acquisition process gets over.
With Jetlore’s talent and expertise in AI-powered technology, PayPal will able to scale up its PayPal marketing solutions adding new services and will continue to expand PayPal’s value proposition to retailers and merchants.
The financial value of the acquisition and other details like expected date of concluding the acquisition process has not been revealed by the company. Also, PayPal has revealed its plan a few days back that it is strengthening its partnership with Google and will allow PayPal users to pay bills and make purchases without having to log in or out of Google services.
